LG Electronics disclosed on the 12th that it will hold the "24th annual shareholders meeting" at 9 a.m. on the 23rd of next month at LG Twin Tower in Yeouido, Seoul.
Agenda items for the shareholders meeting include approval of financial statements, approval of amendments to the articles of incorporation, approval of cancellation of treasury shares, appointment of directors, appointment of Audit Committee Commissioners, and approval of the limit on director remuneration.
The appointments of directors and Audit Committee Commissioners include the new appointment of President Lyu Jae-cheol, who took office as chief executive officer (CEO) in the executive reshuffle at the end of last year, as an inside director, and the reappointment of outside director Seo Seung-woo and an Audit Committee Commissioner.
An agenda item to amend the articles of incorporation to implement cumulative voting will also be presented. Cumulative voting is a system that protects the rights of minority shareholders by granting voting rights per share equal to the number of directors to be elected when appointing two or more directors, allowing votes to be concentrated on a single candidate.
If the item passes, cumulative voting for director appointments will apply to shareholders meetings convened on or after Sept. 10 this year under the supplementary provisions.
LG Electronics also plans to pursue this year's shareholders meeting as an open meeting prioritizing communication, notification, and sharing.
In addition to shareholders, the company will open the meeting venue to stakeholders such as market participants and journalists, and top management will share business strategies directly with shareholders. First launched in 2024, it is continuing for the third year this year.
Meanwhile, LG Electronics introduced an e-voting system in 2021 to strengthen shareholder voting rights. Shareholders can exercise their voting rights by accessing the Korea Securities Depository (KSD) electronic voting system from 9 a.m. on the 13th of next month to 5 p.m. on the 22nd.